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Tether Expands into Eastern Europe with Investment in Georgian Payment Service
Tether, the issuer of USDT, has announced its expansion into Eastern Europe with an investment in the Georgian payment service, CityPay.io. The platform offers services in over 600 locations across Georgia, allowing clients to make payments for goods and services using cryptocurrency.
The company plans to introduce new products through CityPay.io in the next two years, with a focus on Georgia and neighboring countries. Paolo Ardoino, CEO of Tether, emphasized the goal of driving the adoption of cutting-edge technologies that disrupt traditional payment systems.
This is Tether’s second investment in CityPay.io, following a successful collaboration in May 2023. The exact amount of the investment remains undisclosed. In addition to supporting the payment service, Tether has also been involved in the education sector in Georgia through its participation in the Academy of Digital Industries project.
In a recent development, Tether announced a partnership with Chainalysis, a leading blockchain analytics company, to implement a USDT transaction monitoring system on the secondary market. This system will track USDT transactions after the tokens have been released, ensuring transparency and security for users.
Tether’s expansion into Eastern Europe and its ongoing efforts to improve cryptocurrency adoption highlight the company’s commitment to innovation and financial inclusion. Stay tuned for more updates on Tether’s initiatives in the cryptocurrency space.
